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Report Date : |
01.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SLATE & STONE PRODUCTS PTY. LIMITED |
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Registered Office : |
Unit 1, 53 Lawrence Drive, Nerang, |
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Country : |
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Date of Incorporation : |
23.03.1989 |
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Com. Reg. No.: |
010915536 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Engages in import and sales of natural stone, slate tiles, pavers, and walling products. |
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No. of Employees : |
24 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AUSTRALIA - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract
high levels of foreign investment and include extensive reserves of coal, iron
ore, copper, gold, natural gas, uranium, and renewable energy sources. A series
of major investments, such as the US$40 billion Gorgon Liquid Natural Gas
project, will significantly expand the resources sector. Australia also has a
large services sector and is a significant exporter of natural resources,
energy, and food. Key tenets of Australia''s trade policy include support for
open trade and the successful culmination of the Doha Round of multilateral
trade negotiations, particularly for agriculture and services. The Australian
economy grew for 17 consecutive years before the global financial crisis.
Subsequently, the former RUDD government introduced a fiscal stimulus package
worth over US$50 billion to offset the effect of the slowing world economy,
while the Reserve Bank of Australia cut interest rates to historic lows. These
policies - and continued demand for commodities, especially from China - helped
the Australian economy rebound after just one quarter of negative growth. The
economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7%
in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%,
peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an
improved economy, the budget deficit is expected to peak below 4.2% of GDP and
the government could return to budget surpluses as early as 2015. Australia was
one of the first advanced economies to raise interest rates, with seven rate
hikes between October 2009 and November 2010. The GILLARD government is focused
on raising Australia''s economic productivity to ensure the sustainability of
growth, and continues to manage the symbiotic, but sometimes tense, economic relationship
with China. Australia is engaged in the Trans-Pacific Partnership talks and
ongoing free trade agreement negotiations with China, Japan, and Korea
|
Source
: CIA |
Verified
Address
Subject name : SLATE
& STONE PRODUCTS PTY. LIMITED
Business address : 105
Park Road
Town : Slacks
Creek
Province : Queensland
Zip/postal code : 4127
Country : Australia
Tel : +61
7 34422555
Fax : +61
7 34422599
Email : sales@slatestone.com.au
Website : www.slateandstone.com.au
Registered address : Unit
1, 53 Lawrence Drive
Town : Nerang
Province : Queensland
Zip/postal code : 4211
Country : Australia
Postal address : P.O.
Box 1256
Town : Slacks
Creek
Province : Queensland
Zip/postal code : 4127
Country :
Australia
Comments : The
provided address 5 Maunder Street, Slacks Creek, QLD 4127, Australia is the
address for the back entrance of the Subject's head office.
Executive
Summary
Date founded or registered : 23/03/1989
Legal form : Australian
Proprietary Company
Chief executive : John
Albert Anderson
Issued & paid up capital : AUD 1,155
Sales
turnover : AUD
7,000,000 (Estimated Non-consolidated 12 months, 30/06/2012)
Line
of business : Import
and sales of natural stone, slate tiles, pavers, and walling products.
Staff employed : 24
employees
Country risk : Country
risk is minimal
Operation trend : Operational
trend is steady
Management experience : Management
is adequately experienced
Financial performance : Financial
performance is fair
Organization structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Registry
Data
Registration date : 23/03/1989
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 010915536
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 53010915536
Registry status : Live/Active
Previous name : GOLDEN
66 PTY. LTD. (initial)
Change
of legal form : None
reported.
Key
Management
Name : John
Albert Anderson
Designation : Managing
Director
Name : Neil
Bates
Designation : Sales
Manager
Name : Karyn
Anderson
Designation
: Branch Manager
Appointments
Name : Luke
Cleveland Anderson
Designation : Director
Appointment date : 14/01/05
Address : 26
Desert Falls Crescent
Parkwood,
QLD 4214
Australia
Biography : Born
on 26-07-1979 in Sydney, New South Wales, Australia.
Name : John
Albert Anderson
Designation : Director
and Company Secretary
Appointment date : 24/10/94
Address : 2029
The Vistas
Carrara,
QLD 4211
Australia
Biography : Born
on 08-05-1945 in Newcastle, New South Wales, Australia.
Staff employed : 24 employees
Composition
Authorized Capital : AUD
1,155
No of
shares : 1
Class I Share / 1 Class J Share / 1 Class K Share / 1 Class L Share / 1 Class M
Share / 1,150 Ordinary Shares
Share par value : AUD
1
Issued capital :
AUD 1,155
Paid
up capital : AUD
1,155
How listed : Full
List
Composition
Shareholder name : John
Albert Anderson
Address : 2029
The Vistas
Carrara,
QLD 4211
Australia
No. of shares : 1
Class I Share / 500 Ordinary Shares
Shareholder name : Karyn
Louise Anderson
Address : 2029
The Vistas
Carrara
QLD 4211
Australia
No. of shares : 1
Class J Share / 500 Ordinary Shares
Shareholder name : Natalie
Joy Anderson
Address : Unit
50, 111 Macquarie Street
Mermaid
Waters, QLD 4218
Australia
No. of shares : 1
Class K Share / 50 Ordinary Shares
Shareholder name : Aaron
Anderson
Address : C/o
SLATE & STONE PRODUCTS PTY. LIMITED
Unit
1, 53 Lawrence Drive
Nerang,
QLD 4211
Australia
No. of shares : 1
Class L Share / 50 Ordinary Shares
Shareholder name : Luke
Anderson
Address : C/o
SLATE & STONE PRODUCTS PTY. LIMITED
Unit
1, 53 Lawrence Drive
Nerang,
QLD 4211
Australia
No. of
shares : 1 Class M Share /
50 Ordinary Shares
Structure
Related companies and corporate
affiliations comments
: None reported.
Bank
Details
Name of bank : Commonwealth
Bank of Australia
Address : Australia
Account details : Current
Account
Comments
: It is generally not
the policy of local banks to provide credit status information to non related
parties, however interested parties would be advised to consult first with the
Subject if banker's references are required.
Mortgages : None
reported.
Legal Fillings
Bankruptcy fillings : None
reported.
Court judgements : None
reported.
Tax liens : None
reported.
Others
: None reported.
Description
Source of financial statement : External Sources
Financial statement date : 30/06/12
Type of accounts : Estimated
key figures
Currency : Australia
Dollar (AUD)
Exchange rate : 1
USD = AUD 0.96 as of 26-09-2012
Summarized
Financial Information
Consolidation type : Non
Consolidated
Currency : Australia
Dollar (AUD)
Denomination : (x1)
One
Date of financial year end : 30/06/12
Length of accounts : 12
months
Sale turnover / Income : 7,000,000
Comments
: The
Subject is classified as a small proprietary company by the Australian
Securities & Investments Commission hence is not required to disclose their
financial statement.
A proprietary company is defined
as small for a financial year if it satisfies at least two of the following:
- The consolidated revenue for
the financial year of the company and any entities it controls is less than $25
million;
-The value of the consolidated
gross assets at the end of the financial year of the company and any entities
it controls is less than $12.5 million, and
-The company and any entities it
controls have fewer than 50 employees at the end of the financial year.
Main activities : The
Subject engages in import and sales of natural stone, slate tiles,
pavers,
and walling products.
Product & services : Basalt
Bluestone
Bowls
& Basins
Cobbles
Feature
Walling
Finishing
Products
Flat
Pebbles
Furniture
& Features
Glue
& Additives
Granite
Himalayan
Sandstone
Limestone
Marble
Mosaics
Pebbles
Porphyry
Quartz
Sandstone
Slate
Travertine
Tuscan
Purchases
International : Mainly
from China, India, Malaysia, Thailand
Sales
Local : Yes
International : No
exports.
Property
& Assets
Premises
: The
Subject operates from premises located at the verified heading address
consisting of a showroom, warehouse and administrative office.
Branches : In
addition, the Subject operates from branch showrooms located in
Nerang
and Noosaville.
Unit
1, 53 Lawrence Drive
Nerang,
QLD 4211
Australia
Tel: +61 7 55963288
SUMMARIZED COUNTRY RISK
Gross
Domestic Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product - GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4%
industry:
25.6%
services:
70.4%
Inflation : 2009: 1.8%
2010:
2.8%
2011:
3.4%
Unemployment rate : 2009:
5.6%
2010:
5.2%
2011:
5.1%
Public debt
(General Government gross debt as
a % GDP)
:
2009: 16.9%
2010:
20.4%
2011:
22.9%
Government bond ratings : Standard
& Poor's: AAA/Stable/A-1+
Moody's
rating: Aaa
Moody's
outlook: STA
Market value of publicly traded
shares
:
US$1.258 trillion
Largest
companies in the country : Commonwealth
Bank (Banking), BHP Billiton (Materials), Westpac Banking
Group (Banking), Rio Tinto
(Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra
(Telecommunications)
Trade
& Competitiveness Overview
Total exports : US$210.7
billion
Exports commodities : coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports : US$187.2
billion
Imports
commodities : machinery
and transport equipment, computers and office machines, telecommunication
equipment and parts, crude oil and petroleum products
Export
- major partners : Japan
18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India 5.5%, UK 4.2%
Import
- major partners : China
15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%, UK 4.3%, Thailand
4.2%
FDI Inflows : 2008:
US$46,843 million
2009:
US$25,716 million
2010:
US$32,472 million
FDI Outflows : 2008:
US$33,604 million
2009:
US$16,160 million
2010:
US$26,431 million
Best countries for doing business : 10 out of 183 countries
Global
competitiveness ranking : 20
(ranking by country on a basis of 142, the first is the best)
Country
and Population Overview
Total population : 22.23
million
Total area : 7,692,024
km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as % of total
population
: 76%
PAYMENT
HISTORY
Purchase
Term
International : Prepayment, Telegraphic transfer, D/P,
Credit 30-90 days
Sales
Term
Local : Cash, Credit card, Bank transfer, D/P, Credit 30-90
days
Trade
Reference/ Payment
Behaviour
Comments : As local and international trade references were
not supplied, the Subject's
payment track record history cannot be appropriately
determined but based
on our research, payments are believed to be met without
delay.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.69 |
|
|
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.68.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.